Corecommodity Management buys $5,082,812 stake in Sanderson Farms (SAFM)

Sanderson Farms (SAFM) : Corecommodity Management scooped up 12,269 additional shares in Sanderson Farms during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 56,633 shares of Sanderson Farms which is valued at $5,082,812.Sanderson Farms makes up approximately 4.91% of Corecommodity Management’s portfolio.

Other Hedge Funds, Including , Putnam Investments reduced its stake in SAFM by selling 55,143 shares or 49.35% in the most recent quarter. The Hedge Fund company now holds 56,587 shares of SAFM which is valued at $5,078,683. Sanderson Farms makes up approx 0.01% of Putnam Investments’s portfolio.Piermont Capital Management boosted its stake in SAFM in the latest quarter, The investment management firm added 6,346 additional shares and now holds a total of 13,251 shares of Sanderson Farms which is valued at $1,189,277. Sanderson Farms makes up approx 0.29% of Piermont Capital Management’s portfolio. Advisors Preferred sold out all of its stake in SAFM during the most recent quarter. The investment firm sold 84 shares of SAFM which is valued $7,539.Victory Capital Management Inc reduced its stake in SAFM by selling 84,367 shares or 13.37% in the most recent quarter. The Hedge Fund company now holds 546,443 shares of SAFM which is valued at $48,229,059. Sanderson Farms makes up approx 0.19% of Victory Capital Management Inc’s portfolio.

Sanderson Farms closed down -0.73 points or -0.76% at $95.5 with 3,78,784 shares getting traded on Thursday. Post opening the session at $95.77, the shares hit an intraday low of $94.15 and an intraday high of $96.13 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Sanderson Farms reported $2.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Aug 25, 2016. Analyst had a consensus of $2.23. The company had revenue of $728.00 million for the quarter, compared to analysts expectations of $740.93 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.27 EPS.

Many Wall Street Analysts have commented on Sanderson Farms. Sanderson Farms was Upgraded by CLSA to ” Buy” on Aug 18, 2016. Sanderson Farms was Downgraded by JP Morgan to ” Neutral” on May 27, 2016.

Sanderson Farms Inc. is a poultry processing company which is engaged in the production processing marketing and distribution of fresh and frozen chicken and other prepared chicken items. In addition the Company is engaged in the processing marketing and distribution of prepared chicken through its wholly owned subsidiary Sanderson Farms Inc. (Foods Division). It produces a range of processed chicken products and prepared chicken items. It sells ice pack chill pack bulk pack and frozen chicken in whole cut-up and boneless form under the Sanderson Farms brand name to retailers distributors and casual dining operators in the south-eastern south-western north-eastern and western United States and to customers who resell frozen chicken into export markets. During the fiscal year ended October 31 2013 (fiscal 2013) it processed 452 million chickens or over 3.0 billion dressed pounds.

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